AtkinsRéalis reported record quarterly revenue and adjusted EBITDA. Adjusted EPS was 8.1% above the calendar estimate.
AtkinsRéalis Group Inc. (TSX: ATRL) reported third-quarter 2026 results on November 5. Adjusted diluted EPS was C$1.20, ahead of the C$1.11 estimate. Revenue rose 10.7% year over year to a quarterly record of C$3.1 billion, while adjusted EBITDA increased 14.3% to C$330.6 million. Growth continued across much of the engineering and nuclear businesses, but conditions weakened in parts of AMEA. The company also lowered its 2026 organic-growth outlook for Engineering Services Regions.
Recent earnings trend
AtkinsRealis Group Inc
ATRL.TO
ATRL.TO
AtkinsRealis Group Inc
WealthAwesomeMarket cap
$14.51B
P/E
34.6x
Div. yield
0.09%
Div. / share
$0.08
52W high
$106.75
52W low
$79.14
1W change
+2.25%
Beta
0.96
Analyst Price Targets
Based on analyst covering ATRL · as of Nov 10, 2026
Wall Street analysts forecast ATRL stock price to rise 26.3% over the next 12 months.
Consensus
BullishBased on avg. target vs last close (formal rating unavailable for Canadian listings)
Avg. Target
C$116.33
+26.3% Upside
Previously C$116.07 on Nov 9, 2026
Current Price
C$92.14
Last close
Targets are snapshotted when they change. Unchanged figures keep their original date. Not financial advice.
Wealth Awesome Price Forecast
WA ModelStatistical 90-day price range based on ATRL's historical volatility
30-Day Vol
33.2%
Annualized
90-Day Vol
30.3%
Annualized
Trend (90d)
+21.2%
Annualized drift
90d Mean
C$99.38
Expected price
| Horizon | Expected | 68% Range (1σ) |
|---|---|---|
| 30 trading days | C$94.49 | C$84.26 – C$105.97 |
| 60 trading days | C$96.90 | C$82.40 – C$113.96 |
| 90 trading days | C$99.38 | C$81.48 – C$121.21 |
Methodology: Range is calculated using 30-day realized volatility via geometric Brownian motion (log-normal model). 68% band = ±1σ, 95% band = ±2σ. This is a statistical model, not a prediction. Past volatility does not guarantee future results. Not financial advice.
Analyst coverage: 7 analyst(s) cover this name; upcoming EPS consensus is available.
Beat estimates in 4 of the last 4 comparable quarter(s).
| Fiscal period | Report date | Actual EPS | Estimate | Surprise |
|---|---|---|---|---|
| 2026-12-31 | 2027-02-26 | — | 1.0800 | — |
| 2026-09-30 | 2026-11-05 | 1.2000 | 1.1100 | +8.1% |
| 2026-06-30 | 2026-08-06 | 0.9700 | 0.9300 | +4.3% |
| 2026-03-31 | 2026-05-14 | 0.8000 | 0.7400 | +8.1% |
| 2025-12-31 | 2026-02-27 | 1.0000 | 0.9700 | +3.1% |
| 2025-09-30 | 2025-11-13 | 1.1000 | 0.8800 | +25.0% |
Investor takeaway: The quarter brought an 8.1% adjusted-EPS beat, record revenue, higher adjusted EBITDA and a C$20.5-billion backlog. But reported diluted EPS fell year over year, the company cut its growth outlook for Engineering Services Regions, and nuclear backlog declined 20%. Investors should look at adjusted earnings alongside IFRS results and watch whether the company turns its backlog into cash.
C$1.20 adjusted diluted EPS
Adjusted diluted EPS beat the C$1.11 calendar estimate by C$0.09, or 8.1%, and rose 9.1% from C$1.10 in Q3 2025. AtkinsRéalis has now beaten estimates in four consecutive comparable quarters. IFRS diluted EPS went the other way, falling to C$0.83 from C$0.88. Adjusted earnings don’t tell the whole story.
Bull case
Adjusted diluted EPS rose 9.1% year over year to C$1.20. Adjusted EBITDA reached a quarterly record, and its margin increased 30 basis points to 10.6%. Nuclear revenue grew 10.3%. Engineering Services Regions reported higher adjusted EBIT in every region except AMEA.
The company also recorded positive operating cash flow for a third straight quarter and maintained its full-year guidance of at least C$500 million. Its C$20.5-billion backlog provides a large base of contracted work.
Bear case
Adjusted EPS rose, but IFRS diluted EPS fell to C$0.83 from C$0.88 a year earlier. AtkinsRéalis lowered its 2026 organic revenue-growth outlook for Engineering Services Regions to low single digits, citing weaker activity in the Middle East amid ongoing conflict. AMEA revenue and margins also came under pressure, while nuclear backlog fell 20% year over year to C$4.3 billion.
The reported profit margin is 3.47%, and the stock’s P/E is about 34.6. At that valuation, execution and cash conversion matter.
Best next step
Keep exploring this topic
If you want to go deeper, these are the most useful follow-up pages and tools for this topic.
Broker comparison
Best trading platforms in Canada
Compare $0-commission brokers before you act on a ticker story.
Safe cash
Best GIC rates in Canada
If the story makes you want to de-risk, compare guaranteed rates next.
HISA roundup
Best high-interest savings accounts
Keep dry powder in a no-fee savings account instead of chequing.
TFSA room
Check TFSA contribution room
Shelter the next contribution before you buy.
Wealth Awesome
Timely coverage of Canadian stocks, earnings, dividends, and market movers for DIY investors. Stories are checked against exchange data and public filings.
View Full Profile →✅ Reviewed by Certified Financial Professionals
This content has been reviewed by CFA® charterholders and Certified Financial Planners (CFP®) with over a decade of experience in Canadian financial markets. All information is fact-checked against official Canadian sources and regulations.
Why these credentials matter: CFA® charterholders complete 900+ hours of rigorous study in investment analysis and ethics. CFP® professionals are held to the highest standards of financial planning competency and fiduciary duty in Canada.
⚠️ Professional Disclaimer
This content is for educational purposes only and should not be considered personalized financial advice. While our team brings professional expertise, individual circumstances vary. For personalized guidance, consult with a qualified financial advisor, tax professional, or mortgage specialist.
